Debt Payoff Calculator
See how long a debt will take to clear and what the interest will cost.
Why a fixed payment can take so long
Each month the lender adds interest to the balance, then your payment is applied. If your payment is only a little more than the monthly interest, the balance falls very slowly. If it is less than the interest, the debt grows and never clears, which is why the calculator tells you when the payment is too low.
Example
A 5,000 balance at 19.9% a year with a 200 monthly payment takes 33 months (2 years 9 months). The total paid is about 6,511, so the interest is roughly 1,511.
Ways to clear debt faster
- Raise the monthly payment, even slightly, and watch the interest drop.
- Stop adding new charges to the card while you pay it down.
- Ask whether a lower-rate loan or balance transfer is available, and check any fees first.
Frequently asked questions
Does this include new purchases?
No. It assumes you add nothing to the balance and keep paying the same amount each month.
Why is my card's own estimate different?
Cards may charge interest daily, change your rate, or apply fees. This is a clean estimate at a steady rate.
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